Churchill Downs Inc. Files 2023 Annual Report on Form 10-K
Ticker: CHDN · Form: 10-K · Filed: 2024-02-21T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, Churchill Downs, Financial Report, Racing, Gaming
TL;DR
<b>Churchill Downs Inc. has filed its 2023 10-K report, detailing financial performance across its racing and gaming segments.</b>
AI Summary
Churchill Downs Inc (CHDN) filed a Annual Report (10-K) with the SEC on February 21, 2024. Churchill Downs Inc. reported its 2023 fiscal year results on February 21, 2024. The company operates in racing, including track operations, and gaming. Key segments include Live and Historical Racing, TwinSpires (online wagering), and Gaming. Financial data for the fiscal years ending December 31, 2023, 2022, and 2021 are presented. The filing includes details on common stock, retained earnings, and accumulated other comprehensive income.
Why It Matters
For investors and stakeholders tracking Churchill Downs Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Churchill Downs' financial health and operational performance for the fiscal year 2023, crucial for investors assessing the company's stability and growth prospects. The detailed segment reporting (Live/Historical Racing, TwinSpires, Gaming) allows stakeholders to understand the performance drivers and potential risks within each business unit.
Risk Assessment
Risk Level: medium — Churchill Downs Inc shows moderate risk based on this filing. The company's operations are subject to various risks inherent in the racing and gaming industries, including regulatory changes and market competition, as detailed in the full 10-K filing.
Analyst Insight
Investors should review the detailed financial statements and risk factors in the 10-K to understand the company's performance and outlook.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Live and Historical Racing | ||
| TwinSpires | ||
| Gaming | ||
| Product and Service Other |
Key Numbers
- 2023-12-31 — Fiscal Year End (Conformed period of report)
- 2024-02-21 — Filing Date (Filed as of date)
- 2023 — Fiscal Year (Reporting fiscal year)
Key Players & Entities
- Churchill Downs Inc. (company) — Filer name
- Louisville (location) — Business and mailing address city
- Kentucky (location) — State of incorporation
- 7948 (industry_code) — Standard Industrial Classification code for Services-Racing, Including Track Operation
- 001-33998 (filing_id) — SEC File Number
FAQ
When did Churchill Downs Inc file this 10-K?
Churchill Downs Inc filed this Annual Report (10-K) with the SEC on February 21, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Churchill Downs Inc (CHDN).
Where can I read the original 10-K filing from Churchill Downs Inc?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Churchill Downs Inc.
What are the key takeaways from Churchill Downs Inc's 10-K?
Churchill Downs Inc filed this 10-K on February 21, 2024. Key takeaways: Churchill Downs Inc. reported its 2023 fiscal year results on February 21, 2024.. The company operates in racing, including track operations, and gaming.. Key segments include Live and Historical Racing, TwinSpires (online wagering), and Gaming..
Is Churchill Downs Inc a risky investment based on this filing?
Based on this 10-K, Churchill Downs Inc presents a moderate-risk profile. The company's operations are subject to various risks inherent in the racing and gaming industries, including regulatory changes and market competition, as detailed in the full 10-K filing.
What should investors do after reading Churchill Downs Inc's 10-K?
Investors should review the detailed financial statements and risk factors in the 10-K to understand the company's performance and outlook. The overall sentiment from this filing is neutral.
Risk Factors
- Industry Competition [medium — market]: The company faces competition in its various business segments, including racing and gaming.
- Regulatory Environment [medium — regulatory]: Operations are subject to extensive federal, state, and local regulations.
Key Dates
- 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
- 2024-02-21: Filing Date — Date the 10-K was officially filed with the SEC.
Glossary
- 10-K
- An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (Provides a detailed overview of Churchill Downs Inc.'s financial condition and operations for the fiscal year.)
From the Filing
0000020212-24-000055.txt : 20240221 0000020212-24-000055.hdr.sgml : 20240221 20240221164659 ACCESSION NUMBER: 0000020212-24-000055 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 137 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240221 DATE AS OF CHANGE: 20240221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Churchill Downs Inc CENTRAL INDEX KEY: 0000020212 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-RACING, INCLUDING TRACK OPERATION [7948] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 610156015 STATE OF INCORPORATION: KY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33998 FILM NUMBER: 24660501 BUSINESS ADDRESS: STREET 1: 600 N HURSTBOURNE PKWY STREET 2: STE 400 CITY: LOUISVILLE STATE: KY ZIP: 40222-5389 BUSINESS PHONE: 15023941166 MAIL ADDRESS: STREET 1: 600 N HURSTBOURNE PKWY STREET 2: STE 400 CITY: LOUISVILLE STATE: KY ZIP: 40222-5389 FORMER COMPANY: FORMER CONFORMED NAME: CHURCHILL DOWNS Inc DATE OF NAME CHANGE: 20160105 FORMER COMPANY: FORMER CONFORMED NAME: CHURCHILL DOWNS INC DATE OF NAME CHANGE: 19920703 10-K 1 chdn-20231231.htm 10-K chdn-20231231 0000020212 2023 FY false P7Y P2Y P2Y http://www.churchilldowns.com/20231231#PropertyPlantAndEquipmentNetAndOperatingLeaseRightOfUseAsset http://www.churchilldowns.com/20231231#PropertyPlantAndEquipmentNetAndOperatingLeaseRightOfUseAsset P3Y P3Y P3Y P1Y P1Y 1 1 http://www.churchilldowns.com/20231231#AccruedLiabilitiesAndOtherCurrentLiabilitiesCurrent http://www.churchilldowns.com/20231231#AccruedLiabilitiesAndOtherCurrentLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent 0000020212 2023-01-01 2023-12-31 0000020212 2024-02-14 xbrli:shares 0000020212 2023-06-30 iso4217:USD 0000020212 chdn:LiveAndHistoricalRacingMember 2023-01-01 2023-12-31 0000020212 chdn:LiveAndHistoricalRacingMember 2022-01-01 2022-12-31 0000020212 chdn:LiveAndHistoricalRacingMember 2021-01-01 2021-12-31 0000020212 chdn:TwinSpiresMember 2023-01-01 2023-12-31 0000020212 chdn:TwinSpiresMember 2022-01-01 2022-12-31 0000020212 chdn:TwinSpiresMember 2021-01-01 2021-12-31 0000020212 chdn:GamingMember 2023-01-01 2023-12-31 0000020212 chdn:GamingMember 2022-01-01 2022-12-31 0000020212 chdn:GamingMember 2021-01-01 2021-12-31 0000020212 us-gaap:ProductAndServiceOtherMember 2023-01-01 2023-12-31 0000020212 us-gaap:ProductAndServiceOtherMember 2022-01-01 2022-12-31 0000020212 us-gaap:ProductAndServiceOtherMember 2021-01-01 2021-12-31 0000020212 2022-01-01 2022-12-31 0000020212 2021-01-01 2021-12-31 iso4217:USD xbrli:shares 0000020212 2023-12-31 0000020212 2022-12-31 0000020212 us-gaap:CommonStockMember 2020-12-31 0000020212 us-gaap:RetainedEarningsMember 2020-12-31 0000020212 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0000020212 2020-12-31 0000020212 us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0000020212 us-gaap:CommonStockMember 2021-01-01 2021-12-31 0000020212 us-gaap:CommonStockMember 2021-12-31 0000020212 us-gaap:RetainedEarningsMember 2021-12-31 0000020212 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0000020212 2021-12-31 0000020212 us-gaap:RetainedEarningsMember 2022-01-01 2022-12-31 0000020212 us-gaap:CommonStockMember 2022-01-01 2022-12-31 0000020212 us-gaap:CommonStockMember 2022-12-31 0000020212 us-gaap:RetainedEarningsMember 2022-12-31 0000020212 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0000020212 us-gaap:RetainedEarningsMember 2023-01-01 2023-12-31 0000020212 us-gaap:CommonStockMember 2023-01-01 2023-12-31 0000020212 us-gaap:CommonStockMember 2023-12-31 0000020212 us-gaap:RetainedEarningsMember 2023-12-31 0000020212 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 chdn:venue 0000020212 chdn:LiveAndHistoricalRacingMember 2023-12-31 chdn:state chdn:property chdn:sportsbook 0000020212 2023-05-22 2023-05-22 xbrli:pure 0000020212 chdn:PresqueIsleDownsCasinoMember 2023-04-01 2023-06-30 0000020212